lic share news, LIC’s share in the market again dare! Investors scared, what next? Experts say… – lic share target price life insurance corporation stock drops again investors scared, what next experts say
Shares of Life Insurance Corporation of India (LIC share) touched a new low of Rs 600.40 on the NSE today in today’s market session. In such a situation, once again the concern of the investors of LIC has increased. However, many brokerages have predicted a rise in the share price in the future, showing confidence in LIC. In the third quarter of the current financial year, LIC has reported a multi-fold increase in its profits on a year-on-year basis and its premium income has also increased. After good quarterly results, brokerage firm Motilal Oswal maintained a buy advisory on LIC shares. The brokerage said the company’s annual premium growth (APE) is moderate.
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What is the brokerage view on LIC?
For investors in LIC shares, brokerage firm Motilal Oswal advises to buy LIC and fixed the price per share at Rs 830. Earlier on February 10, 2023, the share price had closed at Rs 620 per share. Thus, the brokerage predicts a strong rebound of around 34 percent for the stock from the current price. Meanwhile, the stock has gained more than 30 percent in the last one year. Significantly, LICshares have fallen by 14.45 per cent in the past one month and investors who poured money into the company’s stock have suffered huge losses. 582.35 is LIC’s 52-week low while 949 is its all-time high for the stock.
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LIC Quarterly Results
In the December 2022 quarter of the current year, the insurer reported a net profit of Rs 6,334.19 crore, as against Rs 234.91 crore in the same quarter a year ago. LIC posted a profit of Rs 15,952.49 crore in Q2, though profits were lower than in the September quarter. In addition, the company recorded a growth of 14.5% in net premium income, which stood at Rs 1.11 lakh crore.
(Note: The information given above is based on performance of shares. Consult your advisor while buying/selling in share market. Investing in share market is subject to risk.)
